If I electronically route an order to NASDAQ or another trading venue and that order is immediately rejected, am I required to report an OATS Route Report for the rejected order?
No. If you electronically route an order and that order is immediately rejected (i.e. it is not accepted by the trading venue) then the firm is not required to report the route in an OATS Route Report. However, if the firm re-transmits that order and the re-transmitted order is accepted, a Route Report must be recorded and reported to OATS.
Related Questions
- If I electronically route an order to NASDAQ or another trading venue and that order is immediately rejected, am I required to report an OATS Route Report for the rejected order?
- What maintenance type code should a trading partner use to report missing data on a previously submitted but incomplete transaction?
- How will this affect NASDAQs plans to expand trading in stocks of Japanese and other foreign companies?
